The Evolution of Investment Liberalization under the recent Investment Treaties

Takamichi Inose
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Takamichi Inose: Professor, College of Liberal Arts and Sciences, Kitasato University

Public Policy Review, 2020, vol. 16, issue 5, 1-19

Abstract: Investment liberalization under investment treaties is defined in terms of the expansion of the definition of investment, expansion of the scope of matters subject to substantial provisions, and expansion of the scope of matters subject to dispute settlement (scope of potential investors and damage suffered in pre-establishment activities). In particular, investment treaties and investment chapters of free trade agreements (FTAs) and economic partnership agreements (EPAs) concluded in recent years have made progress in developing substantial rules intended to lower entry barriers that obstruct investment liberalization, such as restrictions on foreign investment. However, in order to make investment liberalization more substantive, it is necessary to establish and improve institutional systems between Contracting Party States because there are limits to the pursuit of liability (damage claims) by investors using the investor-state dispute settlement (ISDS) provision, which has until now been used as a means to address the violation of investment treaties on established investment.

Keywords: investment treaties (investment agreements); free trade agreements (FTAs); economic partnership agreements (EPAs); investment liberalization; restrictions on foreign investment; performance requirements; ISDS provision; ICSID Convention (search for similar items in EconPapers)
JEL-codes: F02 F21 F23 (search for similar items in EconPapers)
Date: 2020
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